FINRA issued a Regulatory Notice requesting comment on a proposal to expand FINRA's alternative trading system ("ATS") transparency initiative to publish the remaining equity volume that was executed over-the-counter ("OTC"), including non-ATS electronic trading systems and internalized trades. According to FINRA, the proposal would not only expand FINRA's initiative but also enable market participants and investors to get a better understanding of a firm's OTC trading. Comments must be submitted by January 9, 2015. S ee: Regulatory Notice 14-48.

FINRA published its Quarterly Disciplinary Review podcast, which reviews specific FINRA rule violations by registered representatives. The podcast discusses cases that highlight the following kinds of conduct that led to disciplinary action: distributing misleading securities-related information to the public and failing to maintain an adequate supervision system; "marking the close," which involved buying a security at the end of a trading day at a much higher price than was current in order to inflate its closing price; and submitting false expense reports to a firm, which caused the firm to

The CFTC issued five orders (the "Orders") to file and settle charges against five banks for the attempted manipulation of, and for aiding and abetting other banks' attempts to manipulate, global foreign exchange ("Forex") benchmark rates. According to the Orders, certain Forex traders at the banks coordinated their trading with traders at separate banks in an attempt to manipulate the Forex benchmark rates. The Orders found that the Forex traders at the banks used private chat rooms to communicate and plan their attempts to manipulate the benchmark rates. Additionally, the CFTC found that, in

Speaking at the 25th Special Seminar on International Finance in Japan, Comptroller of the Currency Thomas J. Curry discussed the challenges to bank supervision and risk management that are posed by an increasingly interconnected global banking environment. In his remarks, Mr. Curry addressed the threat of cybersecurity, as well as U.S. efforts to implement the latest Basel III standards in harmonization with the requirements of Dodd-Frank. Praising the collaboration between regulators in Japan and the United States in implementing Basel capital standards for interest-rate risk, Mr. Curry

In response to the SEC's recent Order Instituting Proceedings ("Order"), SIFMA submitted supplemental comments on FINRA's proposed changes to the definitions of "non-public" and "public" arbitrator. In the Order, the SEC invited comment on whether FINRA's proposal is consistent with Exchange Act Section 15A(b)(6) and Section 15A(b)(9). SIFMA stated that it "strongly believes" the FINRA proposal to be consistent with the Exchange Act because it "appropriately and necessarily addresses the interests of both claimants and respondents in ensuring the neutrality of FINRA arbitrators, thereby